Facebook Quietly Releases ‘Find Friends Nearby,’ Then Quietly Pulls It (wired.com)

Not surprising -- it came out of a hackathon project, didn't have much potential for actual growth, but Facebook just wanted to showcase one of the cooler projects for a day.

I have had this feature for a couple versions. One annoying thing about the FB android app is the fact that it checks my GPS location even when location features are disabled, including this.

It sounds like it was meant to be used the same way as Bump.